61-12-306. Revocation of license. If the commissioner at any time for cause shown and after a hearing determines that a company has violated any provision of this part, that it is insolvent or that its assets are less than its liabilities, that it or its officers refuse to submit to an examination, that it is transacting business fraudulently, or that its management or business methods are improper or hazardous to the holders of its service contracts, the commissioner shall revoke or suspend its license and shall give notice of the suspension or revocation to the public in a manner that the commissioner considers proper.